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Private property market has turned but price increases will be gradual

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Private home prices have turned but increases going forward will be gradual because of strong property cooling measures in place, according to early analyst reactions. The analysts were responding to official flash estimates showing the private residential prices rising quarter-on-quarter for the first time in nearly four years, according to a Urban Redevelopment Authority (URA)…

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URA launches West Coast Vale site

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A 99-year leasehold residential site at West Coast Vale was made available for application under the reserve list of the second half 2017 Government Land Sales (GLS) programme. The 1.96ha site has a maximum gross floor area of about 590,476 sq ft and could yield up to 730 units. The surrounding area comprises mainly condominiums…

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Beach Road shaping up to be a Quek and Kwek playground

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A TIE-UP between GuocoLand and its Hong Kong-listed parent Guoco Group is poised to build a plush office, residential and retail project near City Developments-IOI's South Beach - putting Malaysian tycoon Quek Leng Chan's project near that of his City Developments (CDL) cousin Kwek Leng Beng's. The URA tender for the 2-hectare Beach Road commercial…

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UOL associate acquires Nanak Mansion for $201.1m

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UOL Group associate, Secure Venture Development (No. 1) Pte. Ltd. (SVD1), acquired the freehold Nanak Mansion at 92-128 Meyer Road for $201.1m. SVD1 will develop the 10,185 sqm site, which has a gross plot ratio of 1.4 based on the 2014 Master Plan, along with the road land located beside it. This comes as the…

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Ridgewood condo mulls en bloc sale

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The owners of the 464-unit Ridgewood Condominium along Mount Sinai Drive in District 10 plans to hold an extraordinary general meeting on 14 October to vote on whether to create a collective sale committee. Constructed in 1981, the 999-year leasehold property with an overall area of 672,000 sq ft is one of the oldest condominiums…

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Singapore home prices have hit rock-bottom: BNP Paribas

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BNP Paribas SA believes prices of residential properties in Singapore are set to recover as it has already hit rock-bottom. The first stage in the price rebound is expected to be driven by “very significant” income growth. Given that property ownership as a percentage of household assets here is near a record low, he anticipates…

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SC Global unit buys Jervois Gardens for $72m

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Brownstone, a subsidiary of SC Global, has acquired Jervois Gardens for $72m, or $1,373 psf ppr. Launched for tender on 29 August, the freehold development had an asking price of about $68m. Its third attempt at a collective sale, Jervois Gardens features 2 low-rise blocks of 14 maisonettes as well as 3 apartments. Located between…

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